Asian share markets edged higher today, while the dollar steadied as investors braced for US inflation data that will influence the Federal Reserve's interest rate policy.

The Nikkei is trading up by 1.1% while the Hang Seng was up by 1%. The Shanghai Composite is trading higher by 0.2%.

US stocks ended higher on Tuesday, led by a 1% gain in the Nasdaq, on relief that Federal Reserve chairman Jerome Powell refrained in a speech from commenting on rate policy.

The Dow Jones ended higher by 0.6% while the tech-heavy Nasdaq Composite ended higher by 1%

Here's a table showing the performance of US stocks yesterday:

Source: Equitymaster

Back home, Indian share markets are trading on a positive note.

Benchmark indices opened flat and fell in early trade today. However, they smartly staged a comeback and are presently trading on a positive note.

At present, the BSE Sensex is trading higher by 120 points. Meanwhile, the NSE Nifty is trading higher by 34 points.

TCS, HCL Technologies, and Tech Mahindra are among the top gainers today.

Bharti Airtel, HUL, and M&M are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading lower by 0.1% and the BSE Small Cap index is trading lower by 0.6%.

Sectoral indices are trading on a mixed note. Stocks in the IT sector, and capital goods sector witness buying.

Meanwhile stocks in the telecom sector, power sector, and auto sector witness selling.

Shares of Jindal Steel and Power hit their 52-week high today.

The rupee is trading at Rs 81.7 against the US dollar.

In the commodity markets, gold prices trade higher by Rs 52 at Rs 55,764 per 10 grams.

Meanwhile, silver prices are trading higher by 0.3% at Rs 68,587 per 1 kg.
 

Mutual funds are bullish on P&G Hygiene and Healthcare

P&G Hygiene and Healthcare is one of the biggest players in the Indian FMCG market.

P&G has adopted a hybrid model of manufacturing. The company outsources its manufacturing in addition to manufacturing products at its two wholly-owned facilities in Goa and Himachal Pradesh.

The company is among the top high ROE companies with its five-year average coming in at 60.9%. It reported the highest-ever return on equity (ROE) in the financial year 2022.

Indian mutual funds have increased stakes in the BSE 200 company for seven consecutive quarters. In March 2021, they held a 5.56% stake which has increased to 7.89% at present.
 

Tata Motors completes acquisition of a new plant

On Tuesday, Tata Motors said the acquisition of Ford India's manufacturing plant at Sanand through its subsidiary has been completed.

In August last year, the company announced that its arm Tata Passenger Electric Mobility (TPEML) would acquire Ford India's (FIPL) Sanand plant, Gujarat for Rs 7,257 million (about Rs 725.7 crore).

All the vehicle manufacturing employees were offered employment, and those who have accepted TPEML's offer of employment, have been transferred to the company and have become employees of TPEML with effect from January 10.

The acquisition included the entire land and buildings; the vehicle manufacturing plant along with machinery and equipment and the transfer of all eligible employees of FIPL's vehicle manufacturing operations at Sanand.
 

Uttam Sugar's capex plans

Uttam Sugar said that its board has approved enhancement in the distillery capacity (ethanol) from 150-kilo liters per day (KLPD) to 250 KLPD at the Barkartpur plant of the company.

The project cost of Rs 560 million (m) will be financed through internal accruals and loans under the interest subvention scheme of the Department of Food and Public Distribution of the government of India.

The Central Government is encouraging the mixing of ethanol with fuel as the same is eco-friendly & saves foreign exchange for the country.

Keeping in view the Government's policy and increased demand for ethanol at the national level, the company has decided to increase/enhance the distillery capacity at the Barkatpur Plant of the Company.

The board also approved the increase/enhancement in the "Cane Crushing Capacity" from 23,750 TCD to 26,200 TCD of the company and the improvement in energy efficiency.

The project cost of Rs. 400 m will be financed through internal accruals/loans.

Keeping in view the increased yield and sugar content in the cane as a result of the intensive "cane development program" undertaken by the company, it has decided to install the balancing equipment to take care of additional cane availability and higher sucrose content in the cane.
 

Adani Wilmar business update

The FMCG company expects sales in the December quarter to grow in the high single digits, helped by strong demand during the festive season and stronger out-of-home consumption.

Standalone sales volume will grow in the high teens, the company said. Price volatility in its mainstay edible oil was lower in the third quarter compared with the second quarter and the segmental volume growth was at high-single digits.

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